A clampdown on gazumping and other tactics that cause
misery to housebuyers and sellers is being drawn up by the government as part
of a renewed attempt to reduce the stress of buying a home. New rules to stop
people from cutting their offer at an advanced point in a sale, and “time
wasting” by bidders with no realistic hope of completing a purchase, will also
be examined as part of a review of the rules.
Previous attempts by ministers to improve the process have come to
little. However, Sajid Javid, the communities secretary, is now launching an
eight-week call for evidence from estate agents, solicitors and mortgage
lenders in an attempt to make house buying “cheaper, faster and less
stressful”. Read more on the Observer website.
